Litecoin Price Prediction 2018

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.
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At $52.49, Litecoin price is more than slowly fading away from its glory. Investors seem to be shying away from what was once considered the “silver” to Bitcoin’s “new gold”. However, there does seem to be potential for Litecoin price to recover.

Of course, Litecoin’s price, and the ability for Charlie Lee and company to help the coin see its value of, say, this time in 2017 even, the entire market will need a recovery. There is little doubt that Litecoin cannot break away from both Bitcoin and the market at large. Its price is dependent on it.

As such, we can predict price in relative terms to the market. For instance, as of mid-October, Litecoin is sitting at less than 1/100th of the price of Bitcoin. Though LTC has 4 times as many coins as BTC, so a ratio is more appropriate looking at “market cap”. Bitcoin’s market cap is now 36x what Litecoin’s is. This will likely not change much in 2018, as any market movement starts and ends with Bitcoin.

Still, there is opportunity within that number. Litecoin can start to create momentum on the adoption front before Bitcoin (or Bitcoin Cash). If, and as, it starts to be accepted by commercial enterprises, demand for LTC could grow, pushing Litecoin price back toward the $70 mark and eventually up to $100 again.

At current Bitcoin price, a $100 LTC would mean about a 16-18x BTC to LTC ratio on market cap, which is the very high end possible for 2018 (or into 2019). More likely the upside would somewhere around 25x. If Bitcoin can recover to reach back to $7500, then a 25x ratio would put a bullishLitecoin price prediction at $88.

Below, we’ll show three reasons why this could become a reality, and some technical analysis supporting a price increase of that magnitude.

1. Market Capitalization And Trading Volume

As of the time of writing, even at a price of $52, the coin still has a market cap of more than 3 billion U.S dollars. It’s still a top ten coin by this measure and traded on nearly every major exchange in the industry. Some exchanges even trade by LTC, a sign that the coin is not likely fading into the abyss of into failure yet.

There is still LTC being held and, with a fairly consistent trading volume above $300 million per day, there is still a lot of LTC being moved around. It’s a coin that’s always considered on the forefront of crypto adoption, especially by the masses. With its ease, speed, and exposure on exchanges like Coinbase, it’s a contender for a coin to be in every shoppers wallet in visions of the future. That kind of opportunity is only available to a handful of coins and shouldn’t be overestimated.

2. Bullish Litecoin Analysis

Technical analysis has captured several opportunities wherein Litecoin price could be among the top gainers by the end of 2018. Other charts show LTC price gains expected to spread over to 2019 and beyond.

Some of the leading platforms that concentrate on price predictions based on technical analysis, like Walletinvestor.com, have taken the price of Litecoin on a one-year road test. The findings? In one year, Litecoin will be trading at around $400. Also, their five-year forecast puts the price of Litecoin just above $1000. Quite bullish, of course, but interesting.

Also, Monte Carlo, a type of technical analysis, has recorded that Litecoin will be worth slightly more than $507 by the end of November this year. Though this may seem highly unlikely, though anything is possible in the crypto space.

While these are on the extreme side, there is evidence in the charts of Litecoin support below where it’s at now and room to rise, especially if the macro market can help push Litecoin price upward.

3. Technology

Litecoin is designed to solve problems that hinder the Bitcoin Network. Therefore, it’s made to not inherit the scalability issues of Bitcoin. Litecoin is said to be four times faster than Bitcoin during transactions based on block design.

Such qualities make it the envy of merchants who are keen on adding a crypto payment option for their customers. Eventually, this advantage will lead to massive adoption that will push the price of Litecoin even higher.

Being an open-source project, Litecoin has enough room to introduce fresh ideas into the platform allowing it to occupy a higher position as the coin of choice.

Additionally, its technology has also seen Litecoin charge meager transaction fees compared to its rival, bitcoin. It endears Litecoin to more people looking to save on transaction fees.

Technical Analysis

On the technical side, Litecoin price shows some opportunity for upside. The chart below shows a path for LTC price to break $100 and beyond, though it will certainly need a market recovery or good news to do so. But volume continues to allow LTC to hold at resistance points.

Additionally, the graph indicates that LTC may be forming a triple bottom. Something that is considered a dominant reversal pattern. If the pattern holds and breaks out of resistance, LTC can reach $113 in the short-mid term.

Litecoin has a long way to go and the analysis here is only with positive momentum infused through the investors and trading channels interested in Litecoin. With only 11 weeks left in the year, can Litecoin price come back above $70 this year—will it hit the upside price of $88 (as our very high end) that we’re seeing, or continue downward?

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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